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Stock Market & Financial Investment News

News Breaks
June 13, 2014
10:09 EDTTIME, MDP, TWXTime Inc. seen as acquistion target for Meredith
Magazine publisher Time Inc. (TIME) could be acquired by another magazine publisher, Meredith (MDP), late next year, Citigroup wrote in a note to investors earlier today. Citigroup initiated coverage of Time, which was spun off earlier this month by Time Warner (TWX), with a $28 price target and Buy rating. WHAT'S NEW: Meredith could buy Time in the fourth quarter of 2015, Citi analyst Jason Bazinet predicted. The deal is not likely to occur before then because of the tax-free nature of the Tiime spin-off, the analyst believes. Time shareholders would probably receive $28 per share in a takeover and would have 40%-48% of Meredith's equity following the deal, Bazinet estimated. The combined company could obtain $175M in annual cost savings from the deal and Meredith's stock would likely rise in the wake of the acquisition, the analyst believes. PRICE ACTION: In early trading, Time fell about 1% to $22.28 while Meredith was also down 1% to $43.80.
News For TIME;MDP;TWX From The Last 14 Days
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October 16, 2014
08:37 EDTTWXTime Warner upgraded at Topeka
As previously reported, Topeka upgraded Time Warner to Buy from Hold. The firm upgraded shares citing better than expected guidance targeted at yesterday's analyst day. Price target raised to $90 from $70. Note that BofA/Merrill also upgraded shares today.
08:23 EDTTWXTime Warner price target raised to $85-$90 from $79-$81 at Wells Fargo
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07:49 EDTTWXTime Warner upgraded at BofA/Merrill
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07:47 EDTTWXTime Warner added to Focus List at JPMorgan
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07:10 EDTTWXTime Warner upgraded to Buy from Hold at Topeka
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06:31 EDTTWXTime Warner upgraded to Buy from Neutral at BofA/Merrill
October 15, 2014
16:07 EDTMDPMeredith secures rights to license Martha Stewart Living Magazine, website
Meredith Corporation (MDP) announced that it has entered into an agreement with Martha Stewart Living Omnimedia (MSO) to acquire the rights to Martha Stewart Living and www.marthastewart.com pursuant to a 10-year licensing agreement. Under the terms of the agreement, Meredith will lead sales and marketing, circulation, production, and other non-editorial functions of Martha Stewart Living and Martha Stewart Weddings magazines. Martha Stewart Living Omnimedia's editorial team will continue to create its highly regarded content. Additionally, Meredith will assume responsibility for the sales and marketing of www.marthastewart.com and www.marthastewartweddings.com and its related assets, including its vast video library. The agreement, which applies to the United States and Canada, is effective November 1. The agreement will not have a material effect on Meredith's FY15 Q2 financial performance, but will be accretive to Meredith's earnings for the second half of fiscal 2015 and in FY16.
13:22 EDTTWXEarnings Preview: Netflix falls after HBO announced plans of streaming service
Netflix (NFLX) is expected to report third quarter earnings after the market close on Wednesday, October 15 with a conference call scheduled for 6:00 pm ET. Netflix is an Internet subscription service that allows members to watch TV shows and movies through DVD and on-demand streaming. EXPECTATIONS: Analysts are looking for earnings per share of 93c on revenue of $1.41B. The consensus range is 86c-$1.24 for EPS, and $1.39B-$1.43B for revenue, according to First Call. LAST QUARTER: Netflix reported second quarter EPS of $1.15 against estimates of $1.16, on revenue of $1.15B against estimates of $1.33B. It reported Q2 total streaming net additions of 1.69M and Q2-end total streaming members of 50.05M. The company reports Q2 international streaming net additions of 1.12M and Q2-end members of 13.8M. Netflix gave Q3 EPS guidance of 89c and revenue guidance of $1.22B. It also expects to add 3.69M net additions, with international approaching contribution profitability. Netflix said it can achieve U.S.-like margins in its international business. During its Q2 earnings interview, Netflix said it sees a dip in free cash flow for the fourth quarter of 2014 and the first quarter of 2015 as company expands original content. NEWS: Netflix launched in several countries in the past quarter, including France, Germany, Gelgium Austria, Switzerland, and Luxemburg. It also signed a deal with Weinstein Co. to release a feature film sequel to "Crouching Tiger Hidden Dragon" that will be released to a number of IMAX (IMAX) theaters. Netflix signed Judd Apatow to a two-year commitment for an original comedy series, and Adam Sandler to star in four feature films. The company announced a peering deal with Time Warner Cable (TWC) for faster streams and direct access. In a recent post on Facebook, CEO Reed Hastings said the company passed Time Warner's HBO in subscriber revenue. HBO, however, announced plans today to launch a standalone streaming service in the U.S. that does not require a cable TV subscription. STREET RESEARCH: MKM Partners said Netflix's international opportunity is larger than most realize and will eventually be able to provide a global product. The company's price target was raised at RBC Capital due to the opportunities in new European markets, along with favorable survey results in the U.S. and the U.K. Barclays and BTIG upgraded the company, saying international estimates are likely achievable no longer see the stock as underperforming its peers. BTIG expects Netflix's streaming service may reach 100M subscribers worldwide by 2017. Ahead of Q3 earnings, Canaccord said Netflix will likely report in-line results with continued strong subscriber additions and improved international performance. PRICE ACTION: Netflix shares have fell more than to 3.31% since the first day of trading following the company's Q2 report. In Wednesday mid-day trading ahead of Q3 report, Netflix shares are trading down 2.67%.
12:36 EDTTWXOn The Fly: Midday Wrap
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12:26 EDTTWXNetflix obtains streaming licensing rights to 'Friends'
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10:55 EDTTWXHBO to launch standalone online service in 2015
HBO's plans to launch a stand alone streaming service in the U.S. that does not require a cable TV subscription were announced at Time Warner's (TWX) analyst day meeting. HBO's upcoming service may be viewed as another competitor to Netflix (NFLX).
10:03 EDTTWXTime Warner's Turner unit sees low double-digit operating income CAGR 2013-18
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09:59 EDTTWXTime Warner CEO says has more than sufficient scale, sees doubling EPS
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09:52 EDTTWXTime Warner CEO sees investing more in content over time
Time Warner notes it invested $13.8B in content in 2013. Time Warner CEO Jeff Bewkes is speaking at the company's investor day meeting.
09:51 EDTTWXTime Warner sees adjusted EPS $6 by 2016, $8 by 2018
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October 10, 2014
07:04 EDTTWXAmazon in talks to join digital locker for movies. WSJ reports
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06:42 EDTTWXTime Warner CEO to be questioned on growth plans, NY Post reports
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05:18 EDTTWXTime Warner to host investor meeting
Investor meeting to be held on October 15 at 9:30 am. Webcast Link
October 7, 2014
10:02 EDTTWXOn The Fly: Analyst Initiation Summary
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07:49 EDTTWXTime Warner initiated with a Buy at MKM Partners
Target $90.
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